Trump plans new tariffs on China, Canada and Mexico on first day in office

President-elect Donald Trump plans to impose new tariffs starting on his first day in office. He announced a 25% tariff on all imports from Canada and Mexico, and an additional 10% on Chinese goods. Trump's tariffs target illegal immigration and drug trafficking, particularly fentanyl. He stated these tariffs will remain until these issues are addressed. This approach marks a shift in U.S. trade policy, following Trump's campaign promises of broad tariffs. Previous threats included a potential 60% tariff on all Chinese imports.